White Pearl Technology Group Initiates Compulsory Redemption, Aixia Applies for Delisting
White Pearl Technology Group has begun the process for compulsory redemption of remaining Aixia shares. Consequently, Aixia has applied to be delisted from Spotlight Stock Market.
Gothenburg, Sweden – White Pearl Technology Group (WPTG) has initiated proceedings for the compulsory redemption of outstanding shares in Aixia Group AB (Aixia). WPTG currently holds 1,519,737 shares in Aixia, representing approximately 96.43 percent of the shares and about 97.73 percent of the votes.
Following the initiation of the redemption process, Aixia's Board of Directors has received a request for delisting from Spotlight Stock Market. The application for delisting is a direct consequence of WPTG's decision to exercise its right under Chapter 22 of the Swedish Companies Act.
The compulsory redemption process allows a majority shareholder to acquire the remaining shares in a company. Aixia's removal from the stock exchange is a logical step given WPTG's significant control over the company.
Further details regarding the delisting timeline and the redemption process will be announced.